The Globe and Mail reports in its Wednesday, Feb. 26, edition that Desjardins Securities analyst Lorne Kalmar has reaffirmed his "hold" recommendation for Dream Office REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kalmar lowered his unit target to $19.50 from $21. Analysts on average target the units at $19.17. Mr. Kalmar says in a note: "Q4 results were largely in line (ex one-time items), while occupancy declined owing to the known vacancy at 74 Victoria [in Toronto]. In our view, management's outlook for 2025 is achievable and seems to be underpinned by relatively conservative assumptions. However, in light of the broader macro uncertainty, elevated vacancy in the downtown Toronto office market and our forecast two-year FFOPU CAGR [funds from operations per unit compound annual growth rate] (2024 26) of 0 per cent, we are maintaining our Hold rating." The Globe reported on Feb. 16, 2024, that Mr. Kalmar had reiterated his "buy" recommendation for Dream Office REIT. The units could then be had for $8.02. The Globe reported on Aug. 15, 2024, that Scotia Capital analyst Mario Saric continued to rate Dream Office REIT "sector perform." The units were then worth $17.87.